Insider Selling: Beta Bionics (NASDAQ:BBNX) Director Sells 1,998 Shares of Stock

Beta Bionics, Inc. (NASDAQ:BBNX) Director Christy Jones sold 1,998 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $9.95, for a total transaction of $19,880.10. Following the completion of the sale, the director directly owned 13,246 shares of the company’s stock, valued at approximately $131,797.70. This trade represents a 13.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Beta Bionics Stock Performance

Beta Bionics stock traded down $0.10 during trading hours on Tuesday, hitting $11.72. The company had a trading volume of 795,893 shares, compared to its average volume of 1,168,092. The firm has a market cap of $522.24 million, a P/E ratio of -7.76 and a beta of 3.29. Beta Bionics, Inc. has a 1 year low of $8.80 and a 1 year high of $32.71. The company has a 50-day moving average price of $10.62 and a two-hundred day moving average price of $18.03.

Beta Bionics (NASDAQ:BBNX) last released its quarterly earnings data on Tuesday, April 21st. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.04. The company had revenue of $27.63 million during the quarter. Beta Bionics had a negative net margin of 60.27% and a negative return on equity of 23.00%. As a group, equities research analysts anticipate that Beta Bionics, Inc. will post -2.19 EPS for the current year.

Institutional Investors Weigh In On Beta Bionics

Several large investors have recently modified their holdings of the business. Eversept Partners LP raised its holdings in shares of Beta Bionics by 108.6% in the 1st quarter. Eversept Partners LP now owns 1,414,838 shares of the company’s stock valued at $14,177,000 after purchasing an additional 736,576 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Beta Bionics by 112.9% in the 1st quarter. Quantinno Capital Management LP now owns 67,879 shares of the company’s stock valued at $680,000 after purchasing an additional 35,996 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Beta Bionics in the 1st quarter valued at about $720,000. Granahan Investment Management LLC raised its holdings in shares of Beta Bionics by 104.9% in the 1st quarter. Granahan Investment Management LLC now owns 248,449 shares of the company’s stock valued at $2,489,000 after purchasing an additional 127,203 shares in the last quarter. Finally, Bruce & Co. Inc. bought a new stake in shares of Beta Bionics in the 1st quarter valued at about $5,518,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Weiss Ratings cut shares of Beta Bionics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, April 21st. Robert W. Baird lowered their price objective on shares of Beta Bionics from $28.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. TD Cowen assumed coverage on shares of Beta Bionics in a research report on Monday, January 26th. They issued a “hold” rating and a $17.00 price objective for the company. Stifel Nicolaus lowered their price objective on shares of Beta Bionics from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. Finally, Wall Street Zen cut shares of Beta Bionics from a “hold” rating to a “sell” rating in a research report on Sunday, March 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $20.00.

Beta Bionics Company Profile

Beta Bionics, a clinical-stage medical device company headquartered in Boston, Massachusetts, is focused on revolutionizing the management of type 1 diabetes through automated insulin delivery solutions. The company’s flagship product, the iLet Bionic Pancreas system, is designed to simplify glycemic control by automatically adjusting insulin dosing in response to continuous glucose monitoring data. By integrating advanced algorithmic control with wearable infusion pumps, the iLet aims to reduce the daily burden of diabetes management and improve clinical outcomes for patients.

At the core of Beta Bionics’ offering is its proprietary bionic pancreas software, which can operate in both insulin-only and dual?hormone modes.